With U.S. President Donald Trump’s tariffs, HC Wainwright analyst writes that traders are in search of corporations with macroeconomic moats that defend towards tariff publicity and regulatory uncertainty.
Legend Biotech Company LEGN has no materials publicity to tariffs, the analyst acknowledged.
The cell remedy firm’s lead product, Carvykti, is a one-time therapy for relapsed or refractory a number of myeloma, which it develops and markets with collaborator Johnson & Johnson JNJ.
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Analyst Mitchell Kapoor notes that Legend manufactures within the U.S. for 100% of the industrial Carvykti sufferers within the U.S. and Europe.
Within the first quarter of 2025, the corporate initiated industrial manufacturing of Carvykti at a Novartis AG NVS manufacturing facility underneath the grasp manufacturing and provide settlement amongst Legend, Janssen, and Novartis.
Analyst Kapoor provides that Legend doesn’t need to import supplies for CAR-T manufacturing and thus has no materials publicity to tariffs or switch pricing.
“Legend has no tariff publicity, creating a beautiful alternative to personal shares in unpredictable macroeconomic instances,” HC Wainwright highlights. The analyst reiterates the Purchase ranking, with a value goal of $75.
Whereas Legend Biotech has a number of medication in improvement, analyst Kapoor writes the largest issue driving its inventory is how properly Carvykti performs as an earlier therapy for a number of myeloma.
The analyst is assured that Carvykti will likely be extensively adopted in earlier strains of therapy, as the information present it’s among the many greatest out there choices. “Thus, we see LEGN as significantly insulated from the regulatory dangers plaguing the biotech area, and we view this as a compelling time to personal the inventory,” says HC Wainwright analyst.
Carvykti stays very favorably positioned in comparison with rivals, citing sturdy efficacy (notably sturdiness) information within the fourth- and second-line remedies, leaving little room for enchancment.
HC Wainwright writes that the drug is way forward of rivals, as it’s already accredited for second-line Relapsed/refractory a number of myeloma (RRMM). New therapies normally begin by getting accredited to be used in sufferers who’ve already tried different remedies. Over time, they will obtain extra approvals for use earlier within the therapy course of.
Worth Motion: LEGN inventory is up 1.86% at $30.81 on the final examine Tuesday.
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